Tracsis sees profits jump

TRANSPORT software and hardware group Tracsis today reported a 50 per cent leap in half-year pre-tax profits.

The Leeds-based group said pre-tax profits for the six months ending January 31, 2013, increased from £1.1m in the same period in the previous year to £1.7m.

Adjusted Editda (earnings before interest, tax, depreciation, and amortisation) rose by 49 per cent to £1.9m, while revenues increased by 29 per cent to £4.7m year-on-year.

John McArthur, chief executive, said: “I am pleased to report further substantial growth in the period with all areas of the group performing ahead of the same time last year.

“In addition to winning several new contracts both in the UK and abroad, we have developed and launched a new software offering for the rail freight sector which has been sold to our first customer marking our entry into a new market.

“The group remains well positioned for further growth and continues to benefit from an excellent financial position, a diverse product offering to blue chip clients, and a healthy pipeline of acquisition prospects.”

Cash balances rose by £978,000 in the period, from £7.6m at July 31, 2012, to £8.5m at January 31, 2013. Tracsis proposed an interim dividend of 0.3p per share, compared to 0.2p per share a year ago.

Tracsis, a University of Leeds spin-out, started out with a software arm, helping rail firms optimise use of staff and trains. It has now expanded into hardware and services.